Wisdom Education launched an initial public offering on Thursday, hoping to become the third Chinese private sector education operator to list on the Hong Kong Stock Exchange
The group has picked a tricky time to access the market with its HK$850 million to HK$1 14 billion ($110 million to $147 million) transaction as the Chinese education sector is undergoing an uncertain transition
Last November, the government promulgated a new education bill, which analysts hailed as a crucial step to shape the long-term structure of the Chinese educational sector
However, the exact dimensions have yet to be spelled out and particularly the financial impact on private school providers
This has hit existing...